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Day: February 21, 2014
February 212014
Pound Hurt by Retail Sales Report
The Great Britain pound fell against the US dollar and the euro today, erasing previous gains, as the retail sales report was even worse than pessimistic expectations. The currency managed to preserve gains versus the Japanese yen. Retail sales dropped 1.5 percent in January from a month, compared to the forecast of 0.9 percent drop. It followed the particularly strong growth by 2.5 percent. Yesterday, Confederation of British Industry released a manufacturing report […]
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February 212014
US Dollar Index Lower as Greenback Loses Ground
Greenback is losing ground to enough currencies today that the US dollar index is heading lower. Helping the dollar move lower are gold prices, which are heading higher right now. The prospect of a commodity rally is weighing on the greenback a bit, since it often moves inversely to metals and oil. Gold prices have been making something of a comeback in recent days, and that is weighing on the dollar bit. […]
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February 212014
CAD Shows Mixed Performance as Economic Indicators Diverge
Macroeconomic data from Canada was mixed today as the inflation report surprised positively, but retail sales data frustrated traders. As a result, the Canadian dollar fell versus its US peer and the euro, but rose a little against the Japanese yen. The Consumer Prices Index rose 0.2 percent in January, at the same rate as in December, while analysts expected a bit smaller increase. Retail sales sank 1.8 percent in December, compared […]
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February 212014
Testing Weekly Range Breakout Opportunities with EA
I am a fan of long-term trading. Or more exactly, of what is considered “long-term” in retail Forex market — when positions are held open for several days or more. I also prefer trading breakout set-ups more than anything else. Naturally, I would come to testing this rather obvious strategy: buy on the upper breakout from the previous weekly range and sell on the downward breakout of that range. Even though the strategy may sound […]
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